“This is yet another successful digital innovation aimed at providing hyper-personalized experiences for our customers,” said Banorte Chairman Carlos Hank González.
Banorte is going to college – technically speaking. The financial institution partnered with Tecnológico de Monterrey (TEC) to create BanorTec mobile banking, a unique digital financial ecosystem that addresses the TEC community’s specific financial needs.
BanorTec is the first of its kind in Mexico and is the result of a 2021 strategic alliance between the bank and the higher education institution to promote the development of financial solutions for students, professors and collaborators. The exclusive program offers three customized products – a personal account and two BanorTec credit cards – and a mobile banking app that offers customers to 100% digital experience. There also is a digital card component for more secure purchases and card-free cash withdrawals.
In addition, the BanorTec app also provides its users with specialized interaction functionalities such as Banorte and Tec notifications, services to purchase food and tickets to events as well as money transfers and collections.
“This is yet another successful digital innovation aimed at providing hyper-personalized experiences for our customers,” said Banorte Chairman Carlos Hank González. “As the first digital financial ecosystem for university community Mexico, BanorTec mobile banking offers members of Tecnológico de Monterrey community financial services specific to their own needs.”
Carlos Hank González has long been a digital champion. In 2013, Banorte was the first bank to offer a digital pay card designed for e-commerce. Five years later, Banorte became the only bank to offer credit line increases through digital banking.
In June 2021, Banorte and Google Cloud joined forces to accelerate the bank’s digital transformation and develop key actions, such as cybersecurity focused on threat detection. The partnership provides data-driven efficiencies, increases customer access to services and strengthens analytics capabilities using Google Cloud’s fast, secure, global network and moving the bank closer to artificial intelligence programs and additional user-centric platforms for more hyper-personalized experiences.
Overall, Banorte invests 13 billion pesos, or more than USD $650 million, annually in digitizing its processes for the bank’s 11 million clients. Of those, 6 million are making transactions through digital banking, and more than 4 million already are doing so on their mobile phones.